LandlordInvest’s Innovative Finance ISA is now flexible
LandlordInvest, having recently launched the first residential mortgage-backed IFISA, has made its IFISA flexible. Flexible ISA means that an investor can replace, in whole or in part, cash the investor has withdrawn, without the replacement counting towards the investor’s subscription limit for a tax year. The flexible ISA was only introduced in the current year and offers savers the ability to move cash between all types of ISAs (cash, stocks & shares and the IFISA). LandlordInvest’s property-backed flexible IFISA lets savers invest up to £15,240 in the current tax year (rising to £20,000 in the next tax year) in peer-to-peer loans secured by residential mortgages, and with the ability to […]
Funding Circle hits £2bn milestone
Funding Circle became the second UK peer-to-peer lender to hit the £2bn milestone yesterday, as research showed that the sector had a strong start to the year. Funding Circle’s UK division has now lent £2bn to small businesses, the platform said on its Twitter account on Monday. The platform, which also has operations in the US, Germany and the Netherlands, has experienced stratospheric growth over the past year, lending out £820m in the UK in 2016. Globally, its investors lent more than £1.1bn in 2016, with approximately £400m lent in the fourth quarter alone, a record amount for any small-and medium-sized enterprise (SME) direct lending platform. The platform announced in […]
Australian FinTech launches International FinTech platform
The team behind the highly successful AustralianFinTech.com.au, this week launch their International platform, ukfintech.internationalfintech.com, aimed at connecting the FinTech industry on a global scale. Founder and CEO, Cameron Dart, says International FinTech has been born on the back of the highly successful Australian FinTech platform and growing demand from the global community to have a dedicated online presence for their sector. “International FinTech mirrors the Australian FinTech platform, including a dedicated industry newsfeed and a comprehensive directory of FinTech companies globally. “The site also aims to educate users of new financial technologies such as peer to peer lending and cryptocurrency, all presented in simple terms with no financial jargon” says […]
A Complete Beginners Guide To FinTech In 2017
You may have heard the relatively new term “FinTech” bandied about, but what actually is it? And why is it important for all entrepreneurs to know about and understand? FinTech stands for Financial Technologies, and in its broadest definition, that’s exactly what it is: technologies used and applied in the financial services sector, chiefly used by financial institutions themselves on the back end of their businesses. But more and more, FinTech is coming to represent technologies that are disrupting traditional financial services, including mobile payments, money transfers, loans, fundraising, and asset management. Don’t assume that FinTech is simply a fad or buzzword: Accenture recently released a report which found that […]
Fintech MarketInvoice aims for £900 million lending in 2017, launches Pro product
Fintech company MarketInvoice is planning to more than double the size of its business in 2017 as it launches new products in a bid to become the destination for small business short-term finance. MarketInvoice announced on Thursday that it hopes to reach £2 billion in total lending by the end of 2017, which would represent £900 million in lending in 2017 and 133% growth on its 2016 volumes. Founder and CEO Anil Stocker told Business Insider: “It took us five years to do our first billion; we’re trying to do our second in a year. It’s very exciting.” Peer-to-peer platform MarketInvoice started out in 2010 as a platform to let […]
Lending Works becomes first major P2P platform to launch new ISA
Lending Works, the first peer-to-peer lending platform to have insurance protecting lenders against certain borrower default risks, today becomes the first major UK platform to launch an Individual Savings Account (ISA). The new peer-to-peer lending ISA – which is better known as the Innovative Finance ISA or IFISA – is a new category of ISA set up exclusively for P2P lending. The IFISA can only be offered by platforms who have attained both full authorisation from the Financial Conduct Authority (FCA), and subsequently ISA Manager approval from HMRC. Lending Works received confirmation of both permissions in late 2016, and the company has now become the first member of the industry-body […]
Silicon Valley giant grows stake in UK fintech star TransferWise
One of the early backers of Facebook is increasing its stake in TransferWise, a British financial technology pioneer, in a move that will be hailed as a vote of confidence in UK start-ups. Sky News has learnt that Andreessen Horowitz, a prominent name in Silicon Valley, has agreed to buy a chunk of shares held by TransferWise’s initial ‘angel’ investors. Andreessen is said to have agreed to the purchases in recent weeks at a valuation broadly consistent with TransferWise’s last major fundraising in May 2016, according to people close to the situation. Founded by two former Skype employees, TransferWise has grown rapidly since its launch, and now acts as a […]
The first property-backed Innovative Finance ISA has arrived
LandlordInvest, having recently been approved as an ISA manger by the Board of HM Revenue & Customs, becomes the first peer-to-peer lending platform to offer a property-backed Innovative Finance ISA (“IFISA”). LandlordInvest’s property-backed IFISA lets savers invest up to £15,240 in the current tax year (rising to £20,000 in the next tax year) in peer-to-peer loans secured by residential property, and with the ability to earn tax-free returns between 5-12% per annum. It is the first property-backed IFISA ever made available to UK savers, and it is expected to be a valuable addition to any well-diversified portfolio, especially in the current low rate environment. Filip Karadaghi, LandlordInvest’s Chief Executive said: “This […]
